StablR exploit drives euro- and USD-stablecoins off peg ($2.8M)
A live exploit targeting StablR’s issuer has driven its Euro and USD-pegged stablecoins away from parity, with roughly $2.8 million extracted so far, according to blockchain security firm Blockaid. Blockaid said the incident appears to stem from a compromised private key within a...
➤ StablR's Euro and USD-pegged stablecoins have depegged due to a private key compromise in the issuer's multisignature account, leading to approximately $2.8 million being exploited. ➤ The incident is attributed to a governance and key management failure rather than a smart contract bug, highlighting risks in multisignature setups with low thresholds. ➤ This event underscores the importance of robust key management, governance, and liquidity for stablecoin stability, especially for regulated and collateralized assets.